Relais Group Plc sets a new long-term net sales target. The aim is to reach net sales of 500 MEUR by the end of 2026.
Relais Group Plc, Company Release 17.5.2021 at 9.20 EET
Relais Group Plc sets a new long-term net sales target. The aim is to reach net sales of 500 MEUR by the end of 2026.
Relais Group Plc (“Company”, “Relais”), a leading consolidator in the Nordic vehicle aftermarket, recalibrates its strategy and sets a new long-term net sales target.
Relais has uncompromisingly executed its strategy published during its First North listing in 2019 with the cornerstones of active and targeted acquisitions, organic growth above average market level, and creating added value for the customers through a comprehensive product range and digital service solutions. The long-term financial targets published in 2019 included an ambition to double the Company’s net sales by 2025.
As this target will be reached substantially earlier than 2025, the Company has set a new net sales target for the long-term strategic planning period extending to 2026. According to this new target, the Company aims to reach pro forma net sales of 500 MEUR by the end of year 2026.
The new net sales target is based on the recalibrated strategy for the years 2021-2026, approved today by the Company’s Board of Directors. The new recalibrated strategy continues to rely on a combination of strong growth through acquisitions and a faster than market average organic growth. Relais aims to accelerate and reinforce its acquisition activities. In this context, the Company has chosen to expand its potential acquisition target area to include the entire mobility -related aftermarket, with the main focus remaining on the Nordic vehicle aftermarket.
Arni Ekholm, CEO of Relais Group Plc:
“Our industry is currently facing a remarkable disruption as a result of new digital services, e-mobility, proliferation of electric vehicles, development of the charging infrastructure and the change of the entire concept of mobility. The different modes of mobility and the related services are creating a whole new market, where we will continue to act as a pioneer and active consolidator through targeted acquisitions. We will resolutely increase the share of sales of our own brands and fully utilize the growth potential created by various e-commerce solutions. The e-commerce driven global growth of our lighting brands is an especially important opportunity and growth driver for us.
In addition, we will substantially strengthen our acquisition capabilities and resources. In summer of 2019, we set a strategic target of doubling our Company’s net sales within five years. We are now set to surpass this target well in advance, and it is natural in this context to update our net sales target to match with our recalibrated strategy. “
Relais Group Plc
Board of Directors
For further information, please contact:
Arni Ekholm, CEO
E-mail: arni.ekholm@relais.fi
Phone: +358 40 760 3323
Certified advisor:
Evli Bank Plc
Phone: +358 40 579 6210
Distribution:
Nasdaq Helsinki Oy
FIN-FSA
Main media
www.relais.fi
Relais Group in brief
Relais Group is the leading consolidator and acquisition platform on the vehicle aftermarket in the Nordic and Baltic countries. We are an industrial operator with a sector focus in vehicle life cycle enhancement and related services. We also serve as a growth platform for the companies we own.
We are a profitable company seeking strong growth. We carry out targeted acquisitions in line with our growth strategy and want to be an active player in the consolidation of the aftermarket in our area of operation. Our acquisitions are targeted at companies having a good strategic fit with our group companies.
Our net sales in 2020 was EUR 128.9 (2019: 98.9) million and we employed almost 300 professionals in six different countries. During 2021, we have already made three acquisitions. The combined net sales of the acquired companies total to almost EUR 92 million. We employ more than 800 professionals.
Our share is listed on Nasdaq Helsinki Ltd's Nasdaq First North Growth Market Finland with the stock symbol RELAIS